Although it was not an investment bank, there was a type of investment banking mentality there which I did not like. 

I don't believe in instant gratification, something for nothing, basically mentally diseased, GARBAGE!!!  

Before I say bob is 100% wrong, there is one very very specific circumstance where you might want to take bob's approach - but generally speaking, lookout for the "we lose money on every unit, but make up for it in volume" mentality.  

. - We are in the process of implementing an activities calendar that will keep our residents active and engaged physically, mentally, socially and spiritually.- We have begun renovations on the 20-bed home, which will be that luxury/boutique home from our initial vision.

If I had gone into this project with a "buy x number of shares at x dollars each" mentality, I wouldn't have put in so much money.

I charge 10% of the monthly rent, and if I have to go to the property in person for a routine inspection or to oversee a large job or high ticket estimate, Its $25/hr + $0.50/mile driven.Hiring a professional manager is ideal if you dont have the patience, mental space, or availability to receieve random spur of the moment repair and emergency requests.

You need an Eat what you Kill mentality if you take this path.  

The concept of losing money with negative cash flow is more of a mental state of mind.

Plus you do have a heard mentality in the STR space so you could for sure see over saturation in some markets I would have to think.

Especially with people like myself that came from poverty, scarcity, and victim mentality.